It was never trendy. The only people who did it are those who as Shmegg said had their commname the same as their nickname, and people who thought Admins did it to be unique.
It's part of the reason why I changed my name to Yog. I hated that asterisk.
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Oh, it was trendy. On iEra, 2011, there was a thing going around that if you put "*" on the end of your name, it declared that
you were the original player using that name. I remember people used to use that as an argument:
Player 1: "I am the original Catz!"
Player 2: "No I am the original, I even have the '*' in my name!"
And then it was settled. No joke. Only the "pros" used it, since they had the advantage over being rightful when it came to a name argument, rather than new players who were seen as inferior and therefore didn't have the right to harness such names.